Future benefits for Social Security will ultimately be determined by _____
a. population growth
b. individual decisions on when to retire
c. the existence of private accounts
d. voters through the political process
d
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Study the graph. Suppose this nation starts with producing all military goods. It then decides to produce a mix of civilian and military goods represented by point B. What represents the costs in military goods given up?
What will be an ideal response?
According to this Application, the prices which were tracked in the retail catalogs exemplified the macroeconomic concept of the short run, a period of time in which
A) prices change frequently because of changes in aggregate supply. B) prices don't change very much, implying that the aggregate supply curve is relatively flat. C) prices never change because the aggregate demand curve is vertical. D) price changes are significant because the aggregate supply curve is vertical.